TREE NEWS reports: Oman crude futures rose to $132.09 a barrel, their highest since March, as traders scrambled for alternative supply after last week’s attacks temporarily shut a key Saudi pipeline. The premium over Brent jumped to nearly $24, also a March high, because Oman loads outside the Strait of Hormuz. Abu Dhabi’s Murban crude, piped outside the Gulf, traded near $124 a barrel.
Middle East Crude Loaded Outside Persian Gulf Hits Highest Since March
AI take
The move is less about headline crude strength than about location: barrels that can be lifted without transiting Hormuz are being repriced, and the Oman-Brent spread is now the cleanest read on that premium. This affects Asian refiners most directly, since Gulf grades feed their slate, and it hands pricing power to sellers of Atlantic and non-Gulf supply. Whether the pipeline outage proves temporary, and whether the spread compresses once it is resolved, is the open question.
Generated by AI for reference only.
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